President Trump says he plans to nominate former Godfather's Pizza CEO and GOP White House hopeful Herman Cain to a vacant spot on the Federal Reserve Board.
Moore, a conservative commentator and former Trump campaign adviser, has joined the president in criticizing the central bank. "The Fed is sucking the oxygen out of the economy," Moore has said.
The Federal Reserve left interest rates unchanged Wednesday and signaled that no more rate hikes may be necessary this year amid signs of economic slowing.
The labor market continues to get stronger and the economy is growing at a solid rate, the Federal Reserve said. The central bank also said it will be patient as it decides on future rate increases.
At a time when more women than men are graduating from college and earning doctorates, just a third of Ph.D.s in economics go to women. Now there's an effort to increase women economists at the Fed.
Federal Reserve Chairman Jerome Powell said that the outlook for the U.S. economy remains solid and that interest rates are nearly within a "neutral" range, touching off a surge in stock prices.
Bullish stocks, low unemployment, high confidence — from most angles, the economy is strong. But questions linger as the Federal Reserve raises interest rates for the third time in 2018.
It was the second time in a month that President Trump had taken aim at the Fed. In a Reuters interview, he also accused China and Europe of manipulating their currencies to gain leverage in trade.
The Federal Reserve held steady with no rate increase, but it is expected to raise rates twice more by the end of the year. The Fed said "economic activity has been rising at a strong rate."
The commander in chief usually doesn't comment directly on Fed policy. But President Trump broke with that tradition Thursday, saying, "I'm not thrilled" about the Fed's interest-rate increases.
A long trade war that results in higher, broader tariffs "will be bad for our economy and for other economies too," Federal Reserve Chairman Jerome Powell said at a Senate hearing Tuesday.
The Fed boosted a key interest rate again — its seventh hike since 2015. The move, which was expected, will trigger higher rates on credit cards, home equity lines and other kinds of borrowing.
The central bank remains on track to boost rates gradually, Jerome Powell told Congress on Tuesday in his first testimony as Fed chairman. He said he has seen the economy picking up since December.
Policymakers increased a key rate for the third time this year. The quarter-point move indicates the Fed is confident in the economy as it continues to recover from the financial crisis.
Jerome Powell's confirmation hearing went smoothly, putting him closer to being confirmed as the Federal Reserve's next chairman. He suggested he'll continue the policies pursued under Janet Yellen.
Janet Yellen says she'll step down from the Federal Reserve Board when her successor as chair is sworn in. Earlier this month, President Trump named Jerome Powell to be the next Fed chairman.
As Fed chair, Janet Yellen helped the central bank largely achieve its mandate to engineer full employment while keeping inflation at a level that fosters growth.
President Trump has named Federal Reserve Gov. Jerome Powell to head the U.S. central bank. If confirmed by the Senate he will succeed Janet Yellen, the first woman to serve in the Fed's top post.
President Trump could ask Janet Yellen to stay on as Fed chair, but other names are also circulating. Will the next chief lead the central bank to boost rates more quickly than currently planned?
The Federal Reserve left interest rates unchanged at very low levels. Fed policymakers expressed worries about job growth, so they did not want higher rates to further cool hiring.
As Fed Chair Janet Yellen tries to chart a course forward for the economy, there are some warning lights blinking on her radar. Wages are rising but there are worries that job growth may have stalled.
Fed policymakers are seeing more risks that could derail the U.S. economy. For example, China's growth is slow and our energy sector is weak. So the Fed chose Wednesday to keep interest rates low.
Compared with the Great Recession years, 2015 was a fairly tame time. Still, at least five stories had major impacts. They involved everything from crashing oil prices to merging beer companies.
